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What Happens after the Rare Earth Crisis: A Systematic Literature Review

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  • Yufeng Chen

    (College of Business Administration, Capital University of Economics and Business, Beijing 100070, China
    School of Economics, Center for Studies of Modern Business, Zhejiang Gongshang University, Hangzhou 310018, China)

  • Biao Zheng

    (School of Economics, Center for Studies of Modern Business, Zhejiang Gongshang University, Hangzhou 310018, China)

Abstract

Rare earths (REs) play an important role in modern life, and have been the focus of global attention in recent years. As a result, the number of scientific publications has grown enormously, increasing the need for understanding the knowledge base of various research streams and their emerging branches. The economic analysis of REs has also augmented steadily. Nevertheless, the relevant literature is rather fragmented concerning the thematic topics. To respond to this, a systematic review in accordance with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) and a bibliometric analysis were developed to offer a systematic and holistic literature review of the economic research on REs. This review incorporates studies of REs regarding aspects of supply, price, export policy, international trade, relationship with clean energy, and sustainability. The database of this review includes a set of 85 systemically selected state-of-the-art articles from five databases, including Web of Science, Science Direct, Springer, Proquest, and China National Knowledge Infrastructure (CNKI) that were published after the rare earth crisis, covering empirical and theory research conducted in different countries with different resource endowments. The results show that the majority of the economic research studies have been conducted in the past six years. Furthermore, among the six categories, the most popular research trend is sustainability. Some possible opportunities for future research are also illustrated in this paper.

Suggested Citation

  • Yufeng Chen & Biao Zheng, 2019. "What Happens after the Rare Earth Crisis: A Systematic Literature Review," Sustainability, MDPI, vol. 11(5), pages 1-26, March.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:5:p:1288-:d:210047
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    3. Behnaz Minooei Fard & Willi Semmler & Giovanni Di Bartolomeo, 2023. "Rare Earth Elements: A game between China and the rest of the world," Working Papers in Public Economics 235, University of Rome La Sapienza, Department of Economics and Law.
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    5. Li, Zheng-Zheng & Meng, Qin & Zhang, Linling & Lobont, Oana-Ramona & Shen, Yijuan, 2023. "How do rare earth prices respond to economic and geopolitical factors?," Resources Policy, Elsevier, vol. 85(PA).
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    7. Dario Guarascio & Jelena Reljic & Giacomo Cucignatto & Giuseppe Celi & Annamaria Simonazzi, 2023. "Between a rock and a hard place. Long-term drivers of EU structural vulnerability," Working Papers in Public Economics 237, University of Rome La Sapienza, Department of Economics and Law.
    8. Kyounga Lee & Jongmun Cha, 2020. "Towards Improved Circular Economy and Resource Security in South Korea," Sustainability, MDPI, vol. 13(1), pages 1-14, December.
    9. Bonfante, Mariele Canal & Raspini, Jéssica Prats & Fernandes, Ivan Belo & Fernandes, Suélen & Campos, Lucila M.S. & Alarcon, Orestes Estevam, 2021. "Achieving Sustainable Development Goals in rare earth magnets production: A review on state of the art and SWOT analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
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